Egyptian government implements new measures to regulate factory closures, simplify industrial inspections

(MENAFN) The Egyptian government has announced a new regulation stating that no factory can be closed without a ministerial decision and the approval of the Prime Minister. This move is part of a broader strategy to address the challenges faced by struggling industrial facilities and ensure that no investments are lost and workers' rights are protected. Following directives from President Abdel Fattah El-Sisi, who called for an examination of issues affecting factories and the development of innovative solutions to support them, the government has taken steps to centralize and streamline the process of industrial oversight.

Lieutenant General Engineer Kamel El-Wazir, the Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, has declared that factory closures will now require his direct decision, with the matter being reviewed by the Prime Minister. This decision was revealed during a meeting with investors at the General Authority for Industrial Development. The meeting focused on addressing investor concerns, simplifying the procedures for obtaining industrial licenses, and easing the industrial registration process to boost investment in the sector. El-Wazir also emphasized efforts to regularize informal factories and address issues faced by industrial investors.

Furthermore, El-Wazir specified that factory inspections will be conducted exclusively by a designated committee comprising various ministries and government agencies, ensuring that oversight is coordinated and efficient. He stressed the importance of investors applying for land through the industrial investment map and announced that stringent penalties will be enforced to prevent land speculation, thereby prioritizing serious investors. The Ministry of Industry plans to offer new plots of land by utilizing unused properties acquired from different governmental sources, aiming to support industrial development and increase employment opportunities.

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